Saturday, February 25, 2017

IMF has said that the Indian economy is in fairly good shape, and it is likely to be less affected than other emerging economies if there is a further shock to the global economy.

Paul A Cashin, Assistant Director in the IMF’s Asia & Pacific Department, and mission chief of India, said this is because India has an inward domestically demand-oriented economy. The International Monetary Fund had, earlier this week, in its annual report, forecast India’s growth to slow to 6.6 per cent in the 2016-17 fiscal due to temporary disruptions caused by demonetisation.

But the IMF added that economic growth will bounce back to its expected growth of more than 8 per cent in the next few years. Cashin also said India is in a much better fiscal position than it was, and also much better in terms of its monetary framework and monetary policy.

International rating agency Moody’s Investors Service has predicted that India will be the fastest growing economy among G-20 countries clocking a 7(point)1 per cent growth in year 2017.

In the report titled ‘Modest Acceleration in the Global Economy, Moody said, Indian economy will be the fastest growing among the G-20 nations, though it slowed down in the fourth quarter of 2016 because of the demonetisation.

Moody also said, the continuing cyclical recovery in global economic activity with growth in G-20 countries picking up modestly to 3 per cent in 2017 and 2018 from 2.6 per cent in 2016.

The rating aganecy also said, that there is a high risk of a significant protectionist shift in US trade policy and could inflict lasting damage to the global economy.

Commenting on Asia, the agency said, China’s economy stabilised around the official growth target of 6.7 per cent in 2016 but will likely continue to decelerate to 6.3 per cent and 6 per cent in 2017 and 2018.

Foreign direct investment in the country grew 18 per cent in 2016, to 46 billion dollars, according to data released by the Department of Industrial Policy and Promotion.

The sectors which attracted the highest foreign inflows include services, telecom, trading, computer hardware and software, and automobiles. The bulk of FDI came in from Singapore, Mauritius, the Netherlands and Japan.

Uttar Pradesh, campaigning for the fifth phase of Uttar Pradesh Assembly polls for 51 seats spread over 11 districts will come to a close at 5 pm today, polling for which will take place on Monday, 27 February. The districts going to polls in this phase are Balrampur, Gonda, Faizabad, Ambedkar Nagar, Bahraich, Shravasti, Siddharth Nagar, Basti, Sant Kabir Nagar, Amethi, and Sultanpur.

The election for Alapur constituency in Ambedkar nagar district had been postponed by Poll authorities and here voting will be held on March 9th.

Our correspondent covering election at Indo-Nepal border in Siddharth Nagar reports that on the last day of campaigning, at one side where political parties are making their last ditch effort to woo the voters in favour of their party and candidates, at the same time Poll authorities and institutions are trying to aware voters for franchise and maximum Poll percentage.

Various voter awareness programmes were conducted in Indo-Nepal bordering districts Siddharth Nagar, Balrampur, Shrawasti and Behraich. The slogans like “Pahle matdaan, Fir Jalpaan” were heard reverberating across the birth place of Lord Buddha.

The voters who are residing in Nepal have started reaching their places here before the Indo-Nepal borders are sealed for election. Meanwhile training for poll personnel to be put on duty is completed. Authorities are seen bent upon for free ,fair and peaceful poll.

BJP president Amit Shah said that wind is flowing in favour of his party, which is visible in the ongoing assembly elections.

Addressing an election rally in Ambedakar Nagar in Uttar Pradesh today, he said his government will carry out development works without discrimination on the basis of cast and creed. He alleged that samajwadi party government discriminate works on the line of caste and religion. He appealed people to cast their votes in support of BJP to bring change in the state.

Mr. Shah, while attacking Samajwadi government said, they did nothing for the farmers and assured the people that the BJP government will solve farmers’ problems in the state. He said, loans of small and marginal farmers will be waived off immediately after BJP forms government in the state.

The BJP president reiterated that the dues of sugarcane farmers will be paid up within 14 days. Mr. Shah said central government has earmarked budget of one thousand corer rupees for development of eastern UP only.

Samajwadi Party leader and Chief Minister Akhilesh Yadav has sharply criticised the BJP. He said that BJP leaders are engaged in only making false promises and misguiding people.

Uttar Pradesh, Samajwadi Party President and Chief Minister Akhilesh Yadav said, Mr Narendra Modi has put people in distress after demonetisation. Addressing a poll meeting at Chilhia of Shohratgarh assembly of Siddharth Nagar district today, he said there is no white and black momey, but it is transaction that becomes legal and illegal.

He dared Mr Modi for debate on Note ban issue. Mr Akhilesh Yadav dubbed Mr Modi as a lier and alleged him for not fulfilling his promises. Enumerating his schemes, he said that his government is committed for farmers and poors. He alleged that BSP is helping BJP to stop SP.

Mr Akhilesh Yadav will hold three poll meetings at Itwa and Dumariaganj in the district.

Several senior leaders of BJP and Apana Dal including Union Ministers Rajnath Singh Smriti Jubin Irani, Uma Bharati, Kalraj Misra, Sadhwi Niranjan Jyoti, Anupriya Patel and State unit president of Party Keshaw Prasad Maurya will be addressing rallies in different poll bound areas.

Congress leader Rahul Gandhi will be addressing public meetings today at Baharaich, Gonda and Sultanpur. BSP supremo Mayawati will be addressing rallies at Deoria and Maharajganj. Sunil Shukla, AIR News Lucknow.

Campaig

Prime Minister Narendra Modi has said that country’s progress is incomplete without the development of North East. Hence, this region should be central to our focus.

He said, development and unity of Manipur is the main aim of his party. He promised, there will be no blockade in the state under BJP rule. Addressing an election rally in State’s Imphal West district today, he said, Manipur government is not interested in implementing central schemes. He said, Congress has not done anything for the State during last 15 years.

Mr Modi called upon electorate to give BJP a chance to serve them. He said, his doors are open for all. Pointing towards over 2.5 times more power shortage in Manipur in comparison with the national average, he promised, whatever was not done in last 15 years will be done in 15 months.

The President of India, Shri Pranab Mukherjee has extended his greetings and felicitations to the Government and people of the Republic of Estonia on the eve of theirNational Day (February 24, 2017).

In a message to Her Excellency Ms. Kersti Kaljulaid, the President of the Republic of Estonia, the President has said, “On behalf of the Government and people of India and on my own behalf, it gives me great pleasure to extend warm greetings and felicitations to Your Excellency and the people of the Republic of Estonia on the occasion of your National Day.

Relations between India and Estonia have always been warm and friendly. It is my firm belief that our ties will continue to strengthen and expand to the mutual benefit of our peoples in the years to come.

I would also like to take this opportunity to convey my best wishes for Your Excellency’s good health and well-being and for the continued progress and prosperity of the friendly people of the Republic of Estonia”.

Russia is ready to veto a draft resolution calling for sanctions against Syria over the alleged use of chemical weapons on civilians, Vladimir Safronkov, Russia’s deputy UN envoy, said after the document was discussed at the Security Council. “We will veto it,” Safronkov said, adding that the document put together by US, UK and France “contradicts the fundamental principle of presumption of innocence before the investigation is over.” The draft resolution seeks to blacklist 11 Syrian military commanders and officials and 10 government and related entities involved in the development and production of chemical weapons. Earlier, two diplomats told Reuters the resolution could be put up for a vote as early as next week.

China steams past US, France to be Germany’s biggest trading partner

China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday. German imports from and exports to China rose to 170 billion euros ($180 billion) last year, Federal Statistics Office figures reviewed by Reuters showed. German Vice Chancellor Sigmar Gabriel has suggested that the European Union should refocus its economic policy toward Asia, should the Trump administration pursue protectionism.

Le Pen refused police summons

French right-wing presidential candidate Marine Le Pen refused to attend a summons for questioning by police last Wednesday, her lawyer, Rodolphe Bosselut, told Reuters. Earlier, her chief of staff, Catherine Griset, was put under formal investigation in a probe into the alleged misuse of EU money. Bosselut said Le Pen learned of the police summons on February 21 after returning from her Lebanese visit. “She believes that there is a risk that justice is being used as a tool in the election campaign,” Bosselut said. “She will attend any summons after the elections.”

A Jordanian F-16 fighter jet has crashed in the southern part of Saudi Arabia, Turkish Anadolu news agency reports, citing a statement issued by the Saudi-led coalition. The crash reportedly occurred due to a “technical error,” the statement said, adding that the pilot survived. At the same time, Yemen’s Al-Masirah TV channel reported that the plane was shot down by the Yemeni Shia Houthi militia. According to the coalition, the incident occurred in Saudi Arabia’s southwestern Najran region near the border with Yemen.